No excuse as that's just free money you're leaving on the table.

At the same meeting Shane Jackson, President of The Peoples Bank, 419 Erin Drive, Knoxville and Erik Wilson, VP and Senior Commercial Lender, Mountain Commerce Bank, Kingston Pike, Knoxville also gave detailed information about the kind and types of loans they finance.

It's not that hard to climb this hill, it's not a mountain. :) 

Was thinking about buying a town home in a local resort town like Breckenridge or someplace else in the mountains and just using that.

I currently do short term vacation rentals with a condo in the mountains.

When/if you sell, as long as you qualify on both fronts, you will be able to take a portion of the profit tax free and use the remaining in a 1031 to purchase more investment real estate.Your accountant will have set up a depreciation table on the investment portion and have allocated the % of the whole that is used as investment.  

Where it's such a short time frame, I'd say take the money off the table and get going on that 203k rehab, which will probably accelerate your equity much faster than $140/month.$140/month * 12 months / $30,000 equity = 5.6% return on equity per year before depreciation, loan pay down, and an interest deduction.

It is not the same as moving out 9,600 Google employees out of Mountain View. 

What does he bring to the table? 

Charleston has a high water table and a lot of sandy soil.